Senior Associate - Clearing & Custody Services (Global Custody)
Job Description – APAC
Business Line / Function:
Global Custody/Corporate actions.
Number of Direct Reports:
Directorship / Registration:
Global Custody team in BNP Paribas Securities Services are segregated into Corporate Actions, Income and Tax for operational efficiency and accuracy. Global Custody Corporate action team handles the processing of Corporate action events to the client with accuracy.
Cross-checking information received with other data sources
¡ Reverting to local sub-custodians to clarify/solve any open issue.
¡ Analyzing the corporate event in order to anticipate any reporting or processing issues.
¡ Setting-up of financial information into the Custody system
¡ Collecting and relay any update related to the corporate event on an on-going basis.
¡ Processing the securities reconciliation with sub-custodians client positions at the different steps of the event.
¡ Checking eligible positions of accounts within the local sub-custodian
¡ Checking that all eligible positions have been instructed at response deadline (for voluntary events only)
¡ Consolidating client instructions (for voluntary events only)
¡ Checking that instructions of participation have been duly acknowledged by sub-custodian.
¡ Tracking of the payment date of the event in order to advise clients accordingly
¡ Processing payment of the event on client’s account upon recovery of cash and/or securities from the local sub-custodian
¡ Justifying any cash or securities breaks to Control Teams
¡ Participate in Brain Storming Sessions and share the best practices and ideas with the peer groups and team members.
Technical & Behavioral Competencies
¡ Fair knowledge in corporate actions and income related events for various instrument types
¡ Expertise in Using Banking Software’s & overall awareness of using MS Word, Excel, PowerPoint etc.
¡ Able to clearly understand and envisage the SWIFT messages (MT564, MT565, MT567, MT568, MT599 etc). The Associate should read through the SWIFT message very comfortably and act on the amendments in the message ( Field - 23C: NEWM / REPL / CANC/ REVR etc)
¡ Able to setup CA events for the respective teams by analyzing and understanding the SWIFT messages without any error and high standards.
¡ Fair understanding of the usage and implications of the Applications like NCS, Sunrise, Reflections, Intellimatch, MIDAS, and ISISET and apply it in daily BAU when required.
¡ Should be well versed in corporate actions eligibility rules and analyze whether the particular client / trade is eligible for the CA.
¡ Should be able to perform the Entitlement and Eligibility reconciliation to forecast the entitlements.
¡ Should be well versed with the Reflections especially with the functions like CMP, CCV,CCA,CTAK, CVVC etc
¡ Highly motivated and self-driven to meet the management objectives.
Specific Qualifications (if required)
Behavioural Skills: (Please select up to 4 skills)
Ability to collaborate / Teamwork
Attention to detail / rigor
Communication skills - oral & written
Transversal Skills: (Please select up to 5 skills)
Ability to understand, explain and support change
Ability to manage a project
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Bachelor Degree or equivalent
Other/Specific Qualifications (if required)